Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large, focusing on the specific relationship between central banking, monetary policy and the future of money.
2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall’s classic paper that laid out what became known as Thirlwall’s law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports.
This original book examines how investment theory and regulatory constraints are linked to the professional processes of portfolio investments, and how the principles of Islam as defined by sharia fit into these processes. It also explores the measures required to create and grow a global Islamic asset management industry.
This thought-provoking book investigates the political and economic transformation that has taken place over the past three decades in Central, Eastern and Southeastern Europe (CESEE) since the fall of the Iron Curtain. Through an examination of both the successes and shortcomings of post communist reform and the challenges ahead for the region, it explores the topical issues of economic transition and integration, and highlights lessons to be learned.
This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.
In this extensively updated third edition, Hans Visser explores the ideas and concepts that drive and shape Islamic finance. This incisive book reviews the products, institutions and markets offered by Islamic finance in the modern marketplace, offering a critical discussion of the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions. Visser offers new directions for economics and finance students, as well as students of Islamic finance and Islam studies more broadly.
The model of Islamic insurance policy is based on the principles of mutual cooperation, brotherhood and solidarity. This timely volume contradicts the widely-held belief that insurance policies oppose the teachings of Islam, exploring ways in which it coheres with Shari’ah law. The book explores Takaful, an insurance paradigm that is in accordance with Islamic principles and suits the needs of modern Islamic economies and communities.
This book asks the important question of whether public banks are a better alternative to profit-seeking private banks. Do public banks provide finance for development? Do they serve as stability anchors in financial markets? What kind of governance keeps public banks accountable to the public? Theoretically the book draws on the works of Minsky for the question on stability and on interpretative policy analysis for the issue of governance. It compares empirically three countries with significant public banks: Brazil, Germany, and India.
This is a book in search of an alternative to the discredited investor-owned banks that have brought the rich countries into crisis and the world economy into a long period of austerity. It finds customer-owned banks – credit unions, co-operative banks, building societies – have hardly been affected by the crisis and continue to operate according to their organisational DNA: low-risk, close to the customer, underpinned by real savings, and still lending to SMEs to protect jobs and local economies. They are big business – in some countries with over 40% of the market – but networked in smaller, democratic societies whose origins go back to 1850s Germany.
This research review addresses the broader legal, policy and regulatory issues confronting the international community in its search for effective methodologies to combat money laundering and terrorist financing. New threats must always be met with new regulatory and compliance approaches. The author critically examines the 2012 revision to the Financial Action Task Force, selecting key papers that focus on compliance perspectives, including work examining the recent shift from a rule-based to a risk-based approach.